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FEDERAL HOME LOAN BANK ADVANCES | 9 Months Ended
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Dec. 31, 2022
FEDERAL HOME LOAN BANK ADVANCES |
FEDERAL HOME LOAN BANK ADVANCES | 9. FEDERAL HOME LOAN BANK ADVANCES FHLB advances are summarized at the dates indicated (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2022 |  | March 31, 2022 |
FHLB advances | ​ | $ | 32,264 | ​ | $ | — | ​
Weighted average interest rate on FHLB advances (1) | ​ |  | 4.64 | % |  | 0.31 | %
​ (1) Computed based on the borrowing activity for the nine months ended December 31, 2022 and the fiscal year ended March 31, 2022, respectively. ​ The Bank has a credit line with the FHLB equal to 45% of total assets, limited by available collateral. At December 31, 2022, based on collateral values, the Bank had additional borrowing capacity of $299.6 million from the FHLB. FHLB advances are collateralized with loans secured by real estate. At December 31, 2022, loans carried at $516.5 million were pledged as collateral to the FHLB.

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- Definition The entire disclosure for borrowing from the Federal Home Loan Bank, including: (i) general description; (ii) title and nature of obligation; (iii) interest rate; (iv) payment terms; (v) maturity dates by year; (vi) collateral requirements; (vii) restrictive covenants; (viii) priority; (ix) conversion or redemption features; (x) carrying value of assets pledged as collateral; (xi) combined aggregate maturities for next five years; (xii) unused or available balances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13(a)) -URI https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 + Details
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